Trust Administration and Probate

Whether you have a Will, a Trust, or nothing at all there will come a time when our affairs must be administered.  If you die without planning (intestate) or with a Will, a court proceeding known as “Probate” will need to be started.   Probate is a court-supervised process for appointing a personal representative (executor) to pay creditors and distribute the individually owned assets of a deceased person.  Assets are distributed to beneficiaries in accordance to the instructions written in the person’s Will or in accordance with the intestacy statute where the property is located.  Owning property in multiple states will often result in a probate in each state.  However, even with a Trust, administration will become necessary.  If estate planning is the process of designing a playbook, Trust Administration occurs when the playbook is put into action.   
 
Probate and Trust Administration can be complex and the people you have designated must have competent and experienced counsel to guide them through the process. They must make important decisions – sometimes quickly – and they need help to make them wisely.  They will need to prepare inventories of your property, prepare tax returns, and sign other important documents on your behalf. Ultimately they must divide and distribute your property to those individuals or charities you identified in your Will or Trust.
 
The estate administration process carries a lot of responsibilities and risks.  At Hallock & Hallock, we can help guide your loved ones through the process in a sensitive and competent manner.